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A recent annual report for NPS contained the following data Accounts receivable Less: Allowance for doubtful...
A recent annual report for NPS contained the following data: (dollars in thousands) Current Year Previous...
A recent annual report for NPS contained the following data:
(dollars in thousands)
Current Year
Previous Year
Accounts receivable
$
3,727,000
$
4,527,000
Less: Allowance for doubtful accounts
185,000
148,000
Net accounts receivable
$
3,542,000
$
4,379,000
Net sales (assume all on credit)
$
35,397,000
Required:
1. Determine the receivables turnover ratio and
average days sales in receivables for the current year.
(Use 365 days a year. Do not round intermediate
calculations. Enter your answers in thousands not in
dollars.)...
Check my w E6-25 (Algo) Computing and Interpreting the Receivables Turnover Ratio L06-3 A recent annual...
Check my w E6-25 (Algo) Computing and Interpreting the Receivables Turnover Ratio L06-3 A recent annual report for Libby, Inc. contained the following data: Accounts receivable Less: Allowances Net accounts receivable (dollars in thousands) Current Year Previous Year $ 4,753,000 $ 6,124,000 119,000 109,000 $ 4,634,000 $6,015,000 $ 62,801,000 Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Do no round Intermediate calculations. Enter your answers in...
E6-24 Computing and Interpreting the Receivables Turnover Ratio A recent annual report for FedEx contained the...
E6-24 Computing and Interpreting the Receivables Turnover Ratio A recent annual report for FedEx contained the following data: pre Be Accounts receivable Less: Allowances Net accounts receivable Net sales (assume all on credit) credit) (dollars in thousands) Current Year Previous Year $ 7,851.000 $7.430,000 252,000 178,000 $ 7,599,000 $7,252,000 $60,319,000 Source: FedEx Corporation Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year 2. Explain the meaning of each calculated number.
Shipit Corporation reported the following rounded amounts (in millions): Accounts Receivable Allowance for Doubtful Accounts Accounts...
Shipit Corporation reported the following rounded amounts (in millions): Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) 2016 $ 5,535 (355) $ 5,180 $43,500 2015 $ 5,240 (360) $ 4,880 $42,000 Required: 1. Determine the receivables turnover ratio and days to collect for 2016. (Use 365 days in a year. Do not round Intermediate calculations. Round your final answers to 1 decimal place.) times Receivables Turnover Ratio Days to Collect days...
Please put the calculation in the answer Check my work CP8-5 Analyzing Allowance for Doubtful Accounts,...
Please put the calculation in
the answer
Check my work CP8-5 Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Mathis and Hashey are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable...
Calculate the accounts receivable turnover and average collection period. Assume that average net accounts receivable were...
Calculate the accounts receivable turnover
and average collection period. Assume that average net accounts
receivable were $325,000. (Use 365 days for
calculation. Round average collection period to 1 decimal place,
e.g. 15.1.)
Question 14 0.67/1 View Policies Show Attempt History Current Attempt in Progress During its first year of operations, Sandhill Company had credit sales of $3,900,000, of which $410,000 remained uncollected at year-end. The credit manager estimates that $23,400 of these receivables will become uncollectible. Your answer is correct....
The following data are taken from the financial statements: Average accounts receivable (net) Accounts receivable (net),...
The following data are taken from the financial statements: Average accounts receivable (net) Accounts receivable (net), end of year Current Year Preceding Year $123,000 $95,000 129,012 87,516 950,000 825,000 Sales on account a. Assuming that credit terms on all sales are n/45, determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round intermediate calculations to whole number and final answers to two decimal place. 1. The accounts receivable turnover: Current Year...
The following data are taken from the financial statements Average accounts receivable (net) Accounts receivable (net),...
The following data are taken from the financial statements Average accounts receivable (net) Accounts receivable (net), end of year Sales on account Current Year Preceding Year $123.000 $95.000 129,012 87,516 950.000 825.000 a. Assuming that credit terms on all sales are 1/45, determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables Round intermediate calculation to whol number and final answers to two decimal place. 1. The accounts receivable turnover Current Year...
The Second Cup is a Canadian specialty coffee retailer with over 350 cafés that serve the...
The Second Cup is a Canadian specialty coffee retailer with over 350 cafés that serve the needs of thousands of guests daily. Its annual reports include the following details (in thousands of Canadian dollars): 2015 Net sales: $36,238 Accounts receivable: $5,156 Allowance for doubtful accounts: $1,706 2014 Net sales: $27,497 Accounts receivable: $5,146 Allowance for doubtful accounts: $1,005 2013 Net sales: $27,345 Accounts receivable: $5,015 Allowance for doubtful accounts: $657 2012 Net sales: $26,385 Accounts receivable: $4,813 Allowance for doubtful...
Recent financial statements of Sage Hill Ship Builders, Inc. report net sales of $676,200,000. Accounts receivable...
Recent financial statements of Sage Hill Ship Builders, Inc.
report net sales of $676,200,000. Accounts receivable are
$62,500,000 at the beginning of the year and $87,900,000 at the end
of the year. (Round answers to 2 decimal places, e.g.
50.27. Use 365 days for calculation.)
Compute Sage Hill’s accounts receivable turnover.
Accounts receivable
turnover
times
Compute Sage Hill’s average collection period for accounts
receivable in days.
Average collection period for
accounts receivable
days
A recent annual report for NPS contained the following data:
(dollars in thousands)
Current Year
Previous Year
Accounts receivable
$
3,727,000
$
4,527,000
Less: Allowance for doubtful accounts
185,000
148,000
Net accounts receivable
$
3,542,000
$
4,379,000
Net sales (assume all on credit)
$
35,397,000
Required:
1. Determine the receivables turnover ratio and
average days sales in receivables for the current year.
(Use 365 days a year. Do not round intermediate
calculations. Enter your answers in thousands not in
dollars.)...
Check my w E6-25 (Algo) Computing and Interpreting the Receivables Turnover Ratio L06-3 A recent annual report for Libby, Inc. contained the following data: Accounts receivable Less: Allowances Net accounts receivable (dollars in thousands) Current Year Previous Year $ 4,753,000 $ 6,124,000 119,000 109,000 $ 4,634,000 $6,015,000 $ 62,801,000 Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Do no round Intermediate calculations. Enter your answers in...
E6-24 Computing and Interpreting the Receivables Turnover Ratio A recent annual report for FedEx contained the following data: pre Be Accounts receivable Less: Allowances Net accounts receivable Net sales (assume all on credit) credit) (dollars in thousands) Current Year Previous Year $ 7,851.000 $7.430,000 252,000 178,000 $ 7,599,000 $7,252,000 $60,319,000 Source: FedEx Corporation Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year 2. Explain the meaning of each calculated number.
Shipit Corporation reported the following rounded amounts (in millions): Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) 2016 $ 5,535 (355) $ 5,180 $43,500 2015 $ 5,240 (360) $ 4,880 $42,000 Required: 1. Determine the receivables turnover ratio and days to collect for 2016. (Use 365 days in a year. Do not round Intermediate calculations. Round your final answers to 1 decimal place.) times Receivables Turnover Ratio Days to Collect days...
Please put the calculation in
the answer
Check my work CP8-5 Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Mathis and Hashey are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable...
Calculate the accounts receivable turnover
and average collection period. Assume that average net accounts
receivable were $325,000. (Use 365 days for
calculation. Round average collection period to 1 decimal place,
e.g. 15.1.)
Question 14 0.67/1 View Policies Show Attempt History Current Attempt in Progress During its first year of operations, Sandhill Company had credit sales of $3,900,000, of which $410,000 remained uncollected at year-end. The credit manager estimates that $23,400 of these receivables will become uncollectible. Your answer is correct....
The following data are taken from the financial statements: Average accounts receivable (net) Accounts receivable (net), end of year Current Year Preceding Year $123,000 $95,000 129,012 87,516 950,000 825,000 Sales on account a. Assuming that credit terms on all sales are n/45, determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round intermediate calculations to whole number and final answers to two decimal place. 1. The accounts receivable turnover: Current Year...
The following data are taken from the financial statements Average accounts receivable (net) Accounts receivable (net), end of year Sales on account Current Year Preceding Year $123.000 $95.000 129,012 87,516 950.000 825.000 a. Assuming that credit terms on all sales are 1/45, determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables Round intermediate calculation to whol number and final answers to two decimal place. 1. The accounts receivable turnover Current Year...
Recent financial statements of Sage Hill Ship Builders, Inc.
report net sales of $676,200,000. Accounts receivable are
$62,500,000 at the beginning of the year and $87,900,000 at the end
of the year. (Round answers to 2 decimal places, e.g.
50.27. Use 365 days for calculation.)
Compute Sage Hill’s accounts receivable turnover.
Accounts receivable
turnover
times
Compute Sage Hill’s average collection period for accounts
receivable in days.
Average collection period for
accounts receivable
days
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